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This bank is purely predatory. Every deal is a transaction and they will squeeze every dime they can from you. Online payments are charged 15 dollars extra when on time, and to call in a payment is an even higher fee. My payment was increased from 323 to 369 due to a miscommunication between the car dealership and the bank and I have called approx 8 times, with no avail. Independent bank takes advantage of people. It is in essence a bully. I have let everyone I know about this bank and its actions. I will be switching banks as soon as I can.
This bank does not support the United States Military. I'm a E-6 in the Air Force and have served 12 years of my life various countries and on multiple deployments all over the world in support of this country. Today, I called this bank to get a letter from them allowing me to take my vehicle, which they hold the loan for, overseas. Their response? "Sir we can't allow you to take the vehicle because you haven't been on our books for more than 12 months." Without hesitation at the mention of active duty military being forced to go live in another country for more years of my life... the answer is simply... no. This bank is terrible. Absolutely the worst communication and zero respect for what the military does to give them the right to sit behind their computers and phones and tell people no for no other reason than "just because".
If you are military. Or If you love this country as much as I do. Or if you care about halfway decent customer service and policies that actually benefit you... stay far far away from Independent Bank. Worthless. Completely worthless.
This bank is HORRIBLE!!!! I live in AL, purchased a vehicle where the salesperson raved about IB in Memphis, TN. I got a good interest rate, so decided to finance with them. The loan was obtained in March of 2015. My checking account is with BBandT. I set up my IB vehicle payment through BBandT bill pay, choosing the IB payment to reoccur every month on the same date. Yes, I understand this is not the date that IB would receive the money (for whatever reason, IB can't take electronic payment from other banks). I chose a date TWO WEEKS PRIOR TO MY PAYMENT DUE DATE to be sure that my payment would arrive on time. I have never, never, never had trouble with BBandT bill payment of any other bill that I pay. HOWEVER, for some reason, IB can't seem to receive my payment in a timely manner. I can't help but to wonder if this is the reason..... each and every month, I pay an additional $60 to go towards the principal of my note. Do they sit on my check until the additional money gets eaten up in late fees and interest? In October 2015, my payment to IB never cleared my BBandT checking account. Annoyed, (as I have only had this loan 8 MONTHS and MY PAYMENT HAS NEVER BEEN POSTED ON TIME!!!!!!!!!!!!) I once again called IB and I was assured that I have "10 days past my due date before late fees and credit posting come into play". Well, on the 10th courtesy day past my due date, I called IB again. No, they still had not received check so I had no choice but to pay online. THIS COST ME $35!!!! Anytime you pay via phone or internet it will cost you $35. Oh, wait! It gets better....during this last phone call, I told the girl about my payments never posting on time; she replied "I don't know what is wrong with the post office! I mean, it's not like we are in a little office, our bank is this entire huge building. I do not understand why they have trouble finding us." I said "there are more customers than me that have this same problem" and she said yes! Can you believe that??!!!! I am refinancing my vehicle with BBandT this coming Monday and beyond relieved!!!!!! My interest rate at IB is 3.65% and with BBandT it is going to be 2.9%. WAHOO!!!!!!!!!!!!!! Good riddance, Independent Bank of Memphis. YOU SUCK at customer service. And trust me, Independent Bank of Memphis, I will advertise heavily for you. Just not the kind of advertisement that you will like.
2008 was not a good year for me, lost my job in 2007, loss my house in 2008 , got hit by a person without Ins. and wasted on drugs. She got arrested that did not help me at all. My Insurance which I have till this day, gave me some money to get a new car. Independent bank been the lender. It took me 5 years to pa yit off, to my grand surprise and shock they are hitting me with another $700.00 in fees and according to them , this past Feb. they did not recieve proof of Ins. First of all is a car loan not a mortgage loan, secondly they never contacted my Insurance comp. fourth why did they wait until my last schedule payment to notify me. And finally my Ins. is $153.00 , why did they ins. the car for $700.00 . , .I contacted them a few times, I'm sick and tired of calling and always getting the same answer. This CEO AND ALL OFFICERS SHOULD BE ASHAMED OF THEMSELVES. THEY SAY THE CAR IS PAID IN FULL, HOWEVER IF I DON'T PAY THEIR FEES THEY WILL REPOSES MY CAR!! IM NOT DONE, I'M GOING TO THE BANKING COMISSION WITH THIS.
Horrible, shady business with the most disrespectful "service" representatives. I don't understand how they are still in business after multiple displays of blatant disregard for mutual long-term benefit. I'm transferring my balance as soon as possible.
After a fraudulent charge on my checking account (Navy Federal) posted for an unrelated incident, I placed an electronic stop payment on my partial, two week early check (through NFCU bill pay service). After verifying that the check had not been received and no fees would be assessed I felt confident in waiting until the funds were reinstated to complete payment without further action. Unfortunately Independent bank had already received the check 8 days prior, without processing it, and the check bounced. Since I work night shift (7p-7a) my wife called to see if they would allow a one time waiver based on the circumstances. As previously stated, no agreement could be reached yet the decision is not what prompted this review. For the third time in as many attempts, we received a condescending, arrogant person with an attitude you would expect if you insulted their mother. My wife was treated like she was personally stealing from this person, who had no regard for any future dealings. We would have complained to her supervisor but their policy has you sent to a voicemail and prior dealings left no confidence in this system.
Heed my warnings and take your business elsewhere.